System and method for a back up nfc hardware wallet

Abstract

A backup system and method for splitting a master key on a hardware wallet into different shares by way of Shamir Secret Sharing using architecture that utilizes near field communication protocols for split shares. A hardware wallet apparatus writes and optionally encrypts data split on to tags, such as a card or wearable employing near field communication devices and enables a user access to their cryptocurrency funds without the need of a lengthy private key. A split of the shares is also stored on a companion mobile application. Restoration of lost data can be acquired with ease by way of the system's Foundation server and seed hash, without attaining personal user data.

What is claimed is: 
     
         1 . A system for a backup near field communication wallet, said system comprising:
 a network;   a plurality of near field communication devices in communication with a processing device;   a database in communication with said processing device;   a secret sharing algorithm employed on said processing device, wherein said one processing device comprises a central processing unit, a graphics processing unit, random access memory, and a machine-readable storage medium having instructions stored thereon/in which, when executed, cause said processing device to execute near field communication protocols comprising:
 receiving user data to be stored on said plurality of near field communication devices via said processing device; 
 dividing said user data into a plurality of shares capable of being reconstituted when a threshold is met; 
 encrypting said user data and said plurality of shares; 
 transferring said plurality of shares to said plurality of near field communication devices such that one of said plurality of shares is transferred to one of said plurality of near field communication device; 
 storing one of said plurality of shares on said processing device; 
 uploading a backup of said user data to said database via a companion application stored on a foundation server. 
   
     
     
         2 . The system of  claim 1 , wherein said secret sharing algorithm is a Shamir secret sharing algorithm. 
     
     
         3 . The system of  claim 1 , wherein said shares are transferred via tapping one of said plurality of near field communication devices to said processing device. 
     
     
         4 . The system of  claim 1 , wherein a password is created and used to gain access to said user data. 
     
     
         5 . The system of  claim 1 , wherein said plurality of near field communication devices comprise wearable devices. 
     
     
         6 . The system of  claim 1 , wherein radio frequency identification (RFID) is employed in each of said plurality of near field communication devices to enable location tracking. 
     
     
         7 . The system of  claim 1 , wherein said backup of said user data is created habitually as a .txt file and encrypted by a seed hash, and wherein said foundation server uses a hash of said seed hash in place of a username to avoid unnecessary collection of personal data from said user. 
     
     
         8 . A method for a backup near field communication wallet, said method comprising:
 receiving user data to be stored on a plurality of near field communication devices via a processing device, and wherein a secret sharing algorithm is employed on said processing device;   dividing said user data into a plurality of shares capable of being reconstituted when a threshold is met via said secret sharing algorithm;   encrypting said user data and said plurality of shares;   transferring said plurality of shares to said plurality of near field communication devices such that one of said plurality of shares is transferred to one of said plurality of near field communication device;   storing one of said plurality of shares on said processing device;   uploading a backup of said user data to a database via a companion application stored on a foundation server, wherein said processing device, said plurality of near field communication devices, said database, and said foundation server are in communication via a network.   
     
     
         9 . The method of  claim 8 , wherein said secret sharing algorithm is a Shamir secret sharing algorithm. 
     
     
         10 . The method of  claim 8 , wherein said shares are transferred via tapping one of said plurality of near field communication devices to said processing device. 
     
     
         11 . The method of  claim 8 , wherein a password is created and used to gain access to said user data. 
     
     
         12 . The method of  claim 8 , wherein said plurality of near field communication devices comprise wearable devices. 
     
     
         13 . The method of  claim 8 , wherein radio frequency identification (RFID) is employed in each of said plurality of near field communication devices to enable location tracking. 
     
     
         14 . The method of  claim 8 , wherein said backup of said user data is created habitually as a .txt file and encrypted by a seed hash, and wherein said foundation server uses a hash of said seed hash in place of a username to avoid unnecessary collection of personal data from said user. 
     
     
         15 . A system for a backup near field communication wallet, said system comprising:
 a network;   a plurality of near field communication devices configured with location tracking and in communication with a processing device;   a database in communication with said processing device;   a Shamir secret sharing algorithm employed on said processing device, wherein said one processing device comprises a central processing unit, a graphics processing unit, random access memory, and a machine-readable storage medium having instructions stored thereon/in which, when executed, cause said processing device to execute near field communication protocols comprising:
 receiving user data to be stored on said plurality of near field communication devices via said processing device; 
 dividing said user data into a plurality of shares capable of being reconstituted when a threshold is met; 
 encrypting said user data and said plurality of shares; 
 transferring said plurality of shares to said plurality of near field communication devices such that one of said plurality of shares is transferred to one of said plurality of near field communication device, and wherein said transferring is completed via tapping one of said plurality of near field devices to said processing device; 
 storing one of said plurality of shares on said processing device; 
 uploading a backup of said user data to said database via a companion application stored on a foundation server, wherein said backup of said user data is created habitually as a .txt file and encrypted by a seed hash, and wherein said foundation server uses a hash of said seed hash in place of a username to avoid unnecessary collection of personal data from said user. 
   
     
     
         16 . The system of  claim 15 , wherein timestamps of each interaction, the number of shares, the number of unique IDs, and all interactions of near field communication with said processing device are stored in said database. 
     
     
         17 . The system of  claim 15 , wherein said database is a cloud-based database. 
     
     
         18 . The system of  claim 15 , wherein said machine-readable storage medium is a non-transitory storage medium. 
     
     
         19 . The system of  claim 15 , wherein a password is created and used to gain access to said user data. 
     
     
         20 . The system of  claim 15 , wherein said plurality of near field communication devices comprise wearable devices.